U.S. lawmakers have advanced the first significant retirement legislation in 13 years, with provisions that would make it easier for employers to offer annuities in retirement plan and for small employers to offer 401(k) plans. Congress included the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 in a larger package of spending legislation that passed Congress on Thursday and President Donald Trump’s was expected to sign it by Friday. The SECURE Act will have a significant impact on the retirement landscape, and it enjoys broad bipartisan support. The bill passed the U.S. House of Representatives in May, but it has been hung up since then in the Senate due to pet issues of a handful of senators. As recently as last week, Washington insiders were predicting that SECURE would be pushed into 2020. But SECURE enjoys big-time lobbying muscle from the insurance industry, which is now getting a huge Christmas gift: a safe harbor provision in the bill that makes
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